Hawaii gov. opposes NextEra Energy deal to buy Hawaiian Electric

hawaiian electric

HONOLULU (AP) — Hawaii Gov. David Ige says he doesn't support the sale of Hawaiian Electric to Florida-based NextEra Energy.

The sale had been approved by Hawaiian Electric's shareholders in June but still needs approval from the state Public Utilities Commission.

Ige says he's concerned that NextEra may not be able to fulfill Hawaii's goal that its utilities use 100 percent renewable energy by 2045.

NextEra Energy says it supports the state's renewable energy goals. Spokesman Robert Gould says the company has extensive renewable energy expertise and resources to strengthen Hawaiian Electric.

The companies valued the deal at $2.6 billion in December, or $4.3 billion including the assumption of Hawaiian Electric's debt.

NextEra owns one of the country's largest electrical utilities, Florida Power & Light Co., and a major wind and solar energy company.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs